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SouthState (SSB) Reports Q4 Earnings: What Key Metrics Have to Say

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For the quarter ended December 2023, SouthState (SSB - Free Report) reported revenue of $419.72 million, down 8.6% over the same period last year. EPS came in at $1.67, compared to $1.90 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $419.08 million, representing a surprise of +0.15%. The company delivered an EPS surprise of +8.44%, with the consensus EPS estimate being $1.54.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how SouthState performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Efficiency Ratio: 63.4% versus 58% estimated by four analysts on average.
  • Net Interest Margin (Non-Tax Equivalent): 3.5% versus the four-analyst average estimate of 3.4%.
  • Net charge-offs (recoveries) as a percentage of average loans (annualized): 0.1% versus 0.1% estimated by three analysts on average.
  • Total Nonperforming Assets: $184.12 million compared to the $141.85 million average estimate based on two analysts.
  • Average Balance - Total interest-earning assets: $40.47 billion versus the two-analyst average estimate of $40.24 billion.
  • Net Interest Income: $354.23 million versus $349.73 million estimated by four analysts on average.
  • Total Noninterest Income: $65.49 million versus the four-analyst average estimate of $69.39 million.
  • Net interest income, tax equivalent (Non-GAAP): $354.89 million compared to the $349.08 million average estimate based on three analysts.
View all Key Company Metrics for SouthState here>>>

Shares of SouthState have returned -4.2% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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